A question for point renters......

[frank2271]

Hello Group,

I just closed on my OKW re-sale two weeks ago and I have 356 points that I can't use this year. I have been trying to rent them on the rent board but I get so many people that ask about openings and then when they find out that the requested room is available they back out.

Man this is agravating!!!!!!

Does this happen to everyone?

Can you guys help me, am I doing something wrong?????

Any help would be appreciated.

Thanks
Frank

 

[Richyams]

You shouldn't be charging $15 per point.....

I do know that many people do have success renting their points out, I also know that it is work. I would think that you be able to rent them.

Since they are somewhat distressed, are they? When is their use year? Were they ever banked or borrowed? If they are somewhat distressed, $8 will probably get them sold fast.

 

[frank2271]

Who said that I was charging $15.00 a point, they are $9.00 a point. I think that is a pretty good deal.

 

[Richyams]

I thought renting was easier, I was assuming that you were asking too much.

This does go to show that while renting is a nice option to have, its not one you can count on.

If worse comes to worse, you could lower your price somewhat, not much, I agree $9 is more than fair, but if the market aint bearing it, $7 is better than letting them expire.

Good luck

 

[Canigo]

I rent my pts for 10.00 not a penny less and thats a good deal.I rent my pts every year because I have Kids that are young and cant get away because of school .I post them early enough so people have time to plan there vacation . And they always go I have met some wonderful people and they have a chance to see how great DVC is.So when you have to rent just post them early

 

[Cruelladeville]

Frank,
It's usually pretty easy renting points, but I have a couple of suggestions for you:
1--Don't do any work for anyone, and don't be helpful, either, until you have agreed upon a price; 2--never check on availability until they have emailed an acceptance of terms(most people back out if they aren't serious) 3--Make the ressie after you have agreed upon the financial part, but don't give them longer than 24 hours to send a deposit by PayPal; 4--if the money isn't there after 24 hours, send them a quick email saying that it will be cancelled the next day if payment isn't received; 5--follow thru with your threat; 6--never make ressies for anyone if they are less than 45 days from now. I've met a lot of nice people while renting my points, but it's tremendously hard work, and people will want you to lower the price per point to outrageous levels. I went down to $8 per point, but next year I think I will not go lower than $8.50 or $9, due to the cost of getting money from PayPal. And for everyone I rented to, I had to send follow-up emails to remind them that the final payment was due, usually about 45 days before their arrival at the resort. In one case, I did have to threaten to cancel the ressie in order to get the rest of the promised money. Last, keep a list of who you rented to, what they asked for, what your terms were, and when you received the money. PayPal was nice because you know within a couple of minutes whether or not money was sent, and most people will want to pay by credit card, which protects them, and you, too.

 

[frank2271]

Thank You Cruelladeville,

Your suggestions are very helpful, if anyone else has suggestions I would greatly appreciate it if you can help me. I'm trying to learn as much as possible about this so I don't "screw" myself or accidently "screw" someone else. I want my guests to have a great Disney experience.

Once again, thank you for you help

Frank

 

[VickiVM]

Don't do any work for anyone, and don't be helpful, either, until you have agreed upon a price; 2--never check on availability until they have emailed an acceptance of terms

I don't want to antagonize anyone, but I don't think my renting experience would have been so successful if my DVC owner wasn't so helpful and accomodating. I'm not saying that terms shouldn't be set or expections be made, but if someone is looking into the possibility of renting points from a DVC owner, they probably don't have access to MS to check on such things as availability and point cost per night.

Frank, you said you have points you can't use this year. Are your points expiring end of this year?? Maybe that's part of why you're struggling since the year is almost over and there are fewer people planning holiday vacations.

I wish you luck in finding that "perfect match".

 

[frank2271]

My points are good till the end of January. But I also have points for 2003 to rent.

My problem has been that I get a person interested in dates, we discuss cost, dates and room size. Then I call MS and book a room for the person. Then when I get a hold of the person and tell them that the room is booked they almost always say, "something came up".

I don't understand why the renters would discuss the specifics about the ressie and then cancel.

It's not a problem of not getting rooms available or not getting people interested in vacationing. It's a problem with people backing out after they tell me what the want and agree on the specifics.

What ever happened to a persons "WORD"? If I tell someone I'm going to do something I DO IT!!!!!

That's me

Thanks for everyone's help

Frank

 

[minster22]

Sorry to hear about this Frank..... I am on the other end as a renter and from my end I have been very aware about being serious about taking the points and keeping my commitment financially. I feel very grateful to the DVC owners I have worked with and am certainly hoping for completely smooth transactions. My first actual stay on these points is next week and then again in October. I truly have no doubt that all will go well and hope to rent points again in the future. This sort of thing makes me nervous because trust is the bottom line for both parties and each of us is responsible for keeping our side of the bargain. Don't give up hope ... there are many of us out here willing to keep our word!!

 

[Johnnie Fedora]

I think there have been a rule change allowing unlimited transfer outs from your account. Maybe you could transfer points to other DVC members, and let them make thier own ressies. We rented points to pay for the DCL (since booking on points is outrageous), and it worked well for us. I agree you should get the money issues squared away before calling MS.